In 2025, Medicare recipients will see changes to their Medicare premiums and to the surcharge tiers.
2025 Tiers and Premium Amounts
High income taxpayers pay an additional surcharge for Medicare Part B and D. High income is defined as more than $106,000 for a single taxpayer and $212,000 for a couple. This is an annual calculation based on your gross income from two years before. Consequently, your surcharge for 2023 is based on your 2024 income tax return.
You can appeal the surcharges if your income has substantially decreased since 2024 because of certain life changing events. Examples include the following: getting married or divorced or becoming widowed; you or your spouse retire or reduce your work hours; or you lose income-producing property due to a disaster. Social Security Form SSA-44 is used to request a recalculation.
Unfortunately, a substantial gain on the sale of your previous personal residence is not considered a life changing event. Remember this is an annual calculation. If you had a windfall in 2023 creating a large surcharge in 2025, your 2026 premium will be calculated using your more usual income from your 2024 tax return.
SRS Reminder: Property Tax Bills
2024-25 property tax bills were mailed out starting October 1, 2024. The first installment of property tax payments for fiscal year 2024-25 is due Nov. 1 and becomes delinquent after Dec. 10
Monday, December 10 is the last date for paying your first installment of your Santa Clara County real estate tax without paying a 10% penalty and late fees.
You may pay online at https://payments.sccgov.org/propertytax. There is no fee for paying electronically. Just have your checkbook handy so you can enter the bank routing number and your account number.
A 2.22 percent convenience fee with a $1.49 minimum will be charged by the payment processing vendor when using a debit or credit card.
If you pay with a paper check, your payment envelope needs to be postmarked by December 10. Paying online eliminates the worry as to whether or not the post office processes your mail by the due date, or the County loses your envelope.
Note: The Senior Resource Services (SRS) office hours for drop-in assistance are Monday, Wednesday, and Friday from 10 a.m. to noon. The SRS office is in the Cribari Center across from the Post Office. You may also leave a message at 408-239-5253 or e-mail SRS at villagessrs@sbcglobal.net. The purpose of SRS is to provide education and general business and financial information. All assistance is free and confidential. You should ask your professional advisor about your individual situation.
